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Economy

Shenzhen’s GDP Outstrips Hong Kong and Singapore’s

The latest official data indicates that the GDP of the southern Chinese manufacturing hub of Shenzhen ranks third amongst major Chinese cities.

The latest official data from Shenzhen’s statistical department indicates that initial calculations as confirmed by the Guangdong province authorities would put the city’s 2017 GDP at 2.243839 trillion yuan (approx. USD$360 billion) (including R&D and the Shenzhen Special Cooperation Zone), for year-on-year growth of 8.8% on an inflation-adjusted basis.

This puts Shenzhen’s GDP ahead of the regional financial hubs of Hong Kong and Singapore, and behind only Beijing and Shanghai when it comes to China’s metropolitan economies.

Shenzhen’s population has also seen robust growth over the past several years as the municipality strives to improve its human capital.

In 2017 Shenzhen’s permanent president population was 12.5283 million people, for a net increase of 620,000, as compared to the first net population declines in four decades for both Beijing and Shanghai.

The year previously Shenzhen’s population posted a net gain of 530,000, making it the 28th most populous city in China.

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